- .Director Disqualification
- .Proceeds of Crime Act (POCA)
- .Confiscation Order Proceedings
- .Restraint Orders
- .Anti-Money Laundering
- .Appeals to the Court of Appeal
- .Boiler Room Fraud
- .Asset Forfeiture & Cash Seizure
- .Commercial Litigation
- .Company Fraud
- .Dawn Raids and Seizure
- .Diversion Fraud Defence
- .False Accounting Fraud
- .Financial Fraud
- .Fraudulent Trading
- .Industry Advice
- .Insider Trading Solicitors
- .Insolvency Claims
- .Investment Fraud – Pyramid Schemes
- .Regulatory Disputes
- .What is Advance Fee Fraud?
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Boiler Room Fraud
Boiler room fraud, sometimes called investment fraud or share scams, is increasing in today’s society. This type of serious fraud involves an individual persuading investors to hand over their bank details, convincing them to ‘invest’ in bogus, or practically worthless company shares or assets.
It’s not unusual for boiler room fraudsters to send fake documents to victims, so the investments seem more trustworthy.
A phone call to the potential investor is usually made by a professional sounding stockbroker, who discusses an ‘unmissable’ opportunity for investments to be made in company shares or assets, which sound too good to be true. The fraudster will usually offer research reports, special stockbroker tips or not-to-be-missed discounts on the shares, and promises the victim an unbelievable return on their investment. However, once the fraudsters have managed to get a substantial amount of money from the ‘investors’, the victims never hear from them again.
Boiler room scams are not just limited to the investors. Sometimes, unsuspecting professionals are recruited to help with the scheme, completely unaware that they are working for a fraudulent business.
The effect of Boiler Room Investment Scams
We’ve seen an increase in Boiler Room scams over the years. This has had a negative effect on legitimate stockbrokers and investment professionals, who are finding themselves under scrutiny due to the increasing crime levels.
Scrutiny of boiler room fraud, and financial fraud as a whole, has meant that prosecutions have been rushed, so that justice is being seen to be done by the public. However, this often only serves to increase the chances of legitimate professionals being involved in serious, and often false, allegations.
What should I do if I’ve been accused of boiler room fraud?
f you’ve been accused of boiler room fraud, even if you’re not guilty, it’s essential that you seek professional legal advice straight away, so your solicitor can build a robust and convincing defence for your trial.
We have a dedicated team of business & tax solicitors who work around the clock to ensure our clients get the justice they deserve. If you would like a free, confidential discussion about your next steps, contact us today.
When it comes to tax services, our solicitors have a reassuring amount of experience. We’ve been defending fraud cases for more than twenty years.
Additional resources are now being directed by HMRC to identify and tackle tax avoidance, tax evasion and organised criminal attacks on the system.